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Dubai to host largest Indian property show from June 2

  Dubai / Emirates Business Sumansa Exhibitions brings to you an opportunity to witness the biggest and largest 18th edition of Indian biannual real estate expo in emirates at the Dubai World Trade Centre Zabeel Hall 5 from June 2-4. The expo will witness more than 150 renowned developers with a promise of over 15,000 potential visitors. With free entry ...

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Japan’s stalled retail sales delays Abe’s tax increase

Tokyo / Bloomberg Japan’s retail sales growth stalled, underscoring weakness in private consumption and increasing the likelihood that Prime Minister Shinzo Abe will delay a sales-tax increase planned for next year. Sales were unchanged in April from the previous month, a government report showed on Monday. The median forecast of economists surveyed by Bloomberg was for a 0.6 percent decline. ...

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Hindalco gains as profit doubles

  New Delhi / Bloomberg Hindalco Industries Ltd. shares surged after India’s second-biggest aluminum producer more than doubled profit in the fourth quarter and named a new managing director to lead the company. Hindalco appointed Deputy Managing Director Satish Pai from Aug. 1 to replace D. Bhattacharya, who resigns after helming the billionaire Kumar Mangalam Birla-owned company since 2003. Pai, ...

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Maruti halts production after fire in plant

  Mumbai / Bloomberg Maruti Suzuki India Ltd. fell the most in almost two weeks after a fire at a component supplier disrupted supplies prompting the unit of Suzuki Motor Corp. to suspend production at both its factories. Shares of Maruti declined as much as 2.2 percent, the most intraday since May 18. They traded at 4,066.55 rupees, down 1.9 ...

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Galaxy Resources to buy General Mining in lithium takeover

  Perth / Bloomberg Galaxy Resources Ltd., an Australian lithium developer, agreed to acquire joint-venture partner General Mining Corp. in a deal that values its target at A$216 million ($155 million). Shares in the two companies surged. Perth-based Galaxy offered 1.65 new shares for each General Mining share it doesn’t already own, it said in a statement on Monday. The ...

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Takata to rule out bankruptcy, seeks funds from buyer

Tokyo / Bloomberg Takata Corp. has ruled out using bankruptcy as a way of mitigating liabilities from its record air-bag recalls and is instead seeking buyers that could take a controlling stake and carry the company through its safety crisis, a person with knowledge of the restructuring process. Lazard Ltd., Takata’s financial adviser, will meet manufacturers as well as financial ...

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Syria oppn chief negotiator quits over failed peace talks

  Beirut/ AFP Syria’s opposition chief negotiator in UN-brokered peace talks has announced his resignation in what analysts said amounted to a warning the Geneva-based process was on its “last legs”. Mohammed Alloush, a member of the Saudi-backed rebel group Jaish al-Islam (Army of Islam), said on Twitter late Sunday he was resigning over the talks’ failure to produce any ...

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Australian killed fighting IS in Syria

  Sydney / AFP An Australian man has been killed in Syria fighting IS extremists, the country’s third national thought to have died alongside Kurdish forces, reports said on Monday. Former Australian soldier Jamie Bright, in his 40s, was named on social media as having been “martyred” in recent days. The Kurdish People’s Protection Unit said on its Facebook page ...

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Turkey offers US joint Syria operation sans Kurds

Antalya / AFP Turkey is offering to “join forces” with Washington for a special operation inside Syria on condition it doesn’t include a Syrian Kurdish militia blacklisted by Ankara but seen as an ally by the US, the foreign minister said. Washington’s support of Kurdish fighters in Syria in the fight against IS extremists has angered Ankara, especially after AFP ...

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Iraq forces push into streets of IS-held Fallujah

  Baghdad / AP Iraqi forces thrust into the city of Fallujah from three directions on Monday marking a new and perilous urban phase in the week-old operation to retake the extremist bastion. Led by the elite counter-terrorism service (CTS), Iraq’s best trained and most seasoned fighting unit, the forces pushed in before dawn, commanders said. “Iraqi forces entered Fallujah ...

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